a j bayram wrote:
Let's hope that the money came from a "Trading Account" and not the Charity Account.
Since the club changed its arrangements for the youth team and the Trust was forced to sell the hostel in 2008, there has been no trading and besides which, it is a charity so it doesn't really matter which account the money came out of.
As for the Charity Commission investigating, it was always going to from the moment questions about it were raised in The Guardian; if everything is as watertight as people would have us believe then they will ask a few questions, get satisfactory answers and say "that's OK then" - and I really hope that is the case.
However, the starting point with football clubs is that they are a bad investment and this particular one has well known problems, they are going to start their enquiries for a position of skepticism.
I would have thought that the key questions would be the decsion making process (including in particular Satpleton's role), the strength of the security and whether the interest rate reflects the risk. (I have just had a quick look at the Ocean Finance website and their typical, variable rate is 17.9% APR. Most people will recieve a lower rate than this. Rates range from 11.9% to 29.9% APR.)